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WELCOME, UH, TO OUR TOWN BOARD, UH, WORK SESSION.AND, UM, WE HAVE WITH US OUR AUDITORS, UM, O'CONNOR DAVIES.
AND THEY'RE GONNA GIVE US A REPORT ON THE TOWN TOWN'S FINANCIAL, UM, HEALTH.
COULD I JUST BRIEFLY SAY THAT COUNCIL MEMBER SHEEN IS ATTENDING VIA ZOOM IN COMPLIANCE WITH GREENBERG TOWN CODE AND STATE LAW? OKAY.
UH, I AM NOT NICK DESANTIS, AS IT SAYS ON THE THING.
I AM PINCH HITTING, UH, FOR NICK DESANTIS.
UH, HE HAD A, UH, GRANDFATHER EMERGENCY TO
SO, UH, I'M PINCH HITTING FOR HIM, AND I'M JOINED HERE TONIGHT BY JEFF SHAVER, WHO WAS THE ENGAGEMENT PARTNER WHO RAN, UH, THIS YEAR'S AUDIT.
YOU HAVE IN FRONT OF YOU TWO DOCUMENTS.
YOU HAVE THE VERY, YOU HAVE THE VERY LARGE, UH, ANNUAL COMPREHENSIVE FINANCIAL REPORT DOCUMENT THAT'S 175 PAGES.
AND THANKFULLY, JEFF ALSO PROVIDED A POWERPOINT THAT IS ABOUT 15 PAGES.
AND THAT'S WHAT, UH, WE'RE GONNA TAKE YOU THROUGH, WHICH SUMMARIZES SOME OF THE KEY ELEMENTS IN THE, UH, IN THE FULL, UH, ANNUAL COMPREHENSIVE FINANCIAL REPORT.
SO, UH, THE BRIEF AGENDA FOR THIS, UH, DISCUSSION, UH, STARTS ON PAGE TWO OF THE, UH, THE POWERPOINT.
UH, I'M GONNA TAKE YOU THROUGH AN OVERVIEW OF WHAT WE'RE REQUIRED TO COMMUNICATE TO YOU AS YOUR EXTERNAL AUDITOR.
AND THEN, UH, JEFF IS GONNA TAKE YOU THROUGH THE MAJORITY OF THE PRESENTATION, TAKING YOU THROUGH PRIMARILY, UH, THE FUND BALANCE INFORMATION FOR YOUR GENERAL FUND, UH, OTHER INFORMATION ABOUT THE GENERAL FUND, WHERE YOUR REVENUES AND EXPENDITURES WENT, UH, YOU KNOW, TO AND FROM THIS YEAR.
AND THEN HE'LL ALSO TALK TO YOU ABOUT YOUR TOWN OUTSIDE THE VILLAGES FUND.
SO THAT TAKES CARE OF ALL THE AREAS OUTSIDE OF THE INCORPORATED VILLAGES WITHIN THE TOWN.
UH, HE'LL GO OVER THE PROPRIETARY FUNDS WITH YOU AND EXPLAIN WHAT THOSE ARE.
AND THEN HE IS GONNA GO OVER SOME OF YOUR LONG-TERM DEBT AND, AND DEBT SERVICE, UH, COSTS.
SO STARTING ON PAGE THREE, UH, WHAT YOUR RESPONSIBILITIES ARE AS RELATES TO THE AUDIT THAT HAS, YOU KNOW, BEEN COMPLETED AND HAS BEEN SUBMITTED, UH, TO THE GOVERNMENT FINANCE OFFICERS ASSOCIATION THIS YEAR.
YOU, UH, THE TOWN IS ONE OF OUR FEW CLIENTS THAT SUBMITS THEIR FINANCIAL STATEMENT FOR AN AWARD, A NATIONAL AWARD EACH YEAR.
UH, THAT GOES TO THE GOVERNMENT FINANCE OFFICERS ASSOCIATION IN CHICAGO, AND SOMEBODY OUT THERE OR AROUND THE COUNTRY, GRADES THE REPORT, MAKES SURE IT COMPLIES WITH ALL APPLICABLE, UH, REQUIREMENTS.
AND THEN YOU GET LIKE AN AWARD FOR EXCELLENCE IN FINANCIAL REPORTING.
AND, AND THE TOWN HAS RECEIVED THAT AWARD FOR A VERY, VERY LONG TIME.
AND IT, AND IT'S EXTRA EFFORT ON, YOU KNOW, ON OUR PART ON FINANCE PART EVERY YEAR TO, TO GET THAT, THAT.
BUT IT IS A RECOGNITION THAT YOU ARE CONFORMING WITH THE HIGHEST, UH, YOU KNOW, STANDARDS OF FINANCIAL REPORTING.
SO WHAT YOUR RESPONSIBILITIES AS, AS THIS GROUP IS, UH, YOU KNOW, UH, FOR THE TOWN BOARD, IT'S, IT'S YOUR JOB TO MAKE SURE THAT THE TOWN IS SELECTING APPROPRIATE ACCOUNTING POLICIES.
THAT, THAT WE'RE FOLLOWING ALL THE RULES.
AND OF COURSE, WE MAKE SURE YOU'RE DOING THAT AS WELL.
YOU HAVE TO FOLLOW, UH, AND, AND MAKE SURE THAT THESE FINANCIAL STATEMENTS ARE PREPARED IN, IN, IN ACCORDANCE WITH WHAT'S KNOWN AS GENERALLY ACCEPTED ACCOUNTING PRINCIPLES OR GAP.
UH, THEY HAVE BEEN, UH, YOU ARE RESPONSIBLE FOR ESTABLISHING AND MAINTAINING, YOU KNOW, INTERNAL CONTROL OVER WHAT APPEARS IN THIS REPORT BECAUSE IF THE CONTROLS AND THE SYSTEMS THAT GENERATE THE NUMBERS ARE NO GOOD, THEN, THEN THE NUMBERS ARE NO GOOD.
SO, UH, YOU'RE RESPONSIBLE FOR THAT, OBVIOUSLY RESPONSIBLE FOR COMPLYING WITH VARIOUS FINANCIAL REPORTING, UH, LAWS, REGULATIONS, ESPECIALLY WITH YOUR FEDERAL AID MONEY THAT YOU RECEIVE HERE.
UH, AND WE, YOU KNOW, HAVE TO DO TESTS AND, AND MAKE SURE YOU'RE IN COMPLIANCE WITH THAT.
UH, YOU DO HAVE TO PROVIDE US ALL FINANCIAL RECORDS AND ANY INFORMATION RELATED TO THE AUDIT THAT WE REQUEST.
AND WE DID RECEIVE ALL THAT INFORMATION.
AND OF COURSE, AS THE BOARD SETTING THE TONE AT THE TOP FOR, FOR THE, THE WHOLE TOWN, OUR RESPONSIBILITY FOR THIS AUDIT IS WHAT WE'VE DELIVERED, UH, TO THE TOWN, UH, AND ARE TALKING ABOUT TONIGHT.
EVEN THOUGH, YOU KNOW, WE PREPARE THIS REPORT, THE BIG REPORT ON BEHALF OF THE TOWN, THE PART THAT REALLY BELONGS TO US IS THE INDEPENDENT ORDERS REPORT, WHICH IS, UH, SHORTLY AFTER THE TABLE OF CONTENTS.
IT BASICALLY SAYS THAT WE'VE, UH, YOU KNOW, WE'RE PROVIDING AN OPINION ON THE FINANCIAL STATEMENTS.
WE'VE ISSUED WHAT'S KNOWN AS AN UNMODIFIED OPINION OR A CLEAN OPINION, MEANING WE BELIEVE THESE FINANCIALS FAIRLY PRESENT WHAT HAPPENED IN THE TOWN, UH, FOR EACH 22 YEAR.
JEFF'S ALSO PROVIDED YOU WITH A COMMUNICATIONS LETTER ON ANY, YOU KNOW, DEFICIENCIES THAT WE MIGHT HAVE, UH, FOUND.
WE ARE ALSO REQUIRED TO REPORT TO YOU IF WE CAME ACROSS ANY FRAUD OR ILLEGAL ACTS DURING THE AUDIT.
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WE'RE HAPPY TO SAY THAT, UH, WE DID NOT COME ACROSS ANY OF THOSE.WE DID NOT ENCOUNTER ANY DIFFICULTIES, YOU KNOW, DURING THE AUDIT, YOU KNOW, UH, CONTROLLER'S OFFICE, YOU KNOW, WORKED WITH US.
AND, AND NO DIFFICULTIES THERE.
UH, ANY ADJUSTMENTS THAT WE MIGHT HAVE FOUND HAVE BEEN REFLECTED IN THESE FINANCIAL STATEMENTS RECORDED ON, ON THE TOWNS BOOK.
SO THERE'S NOTHING UNCORRECTED THAT'S LEFT.
AND OBVIOUSLY DURING THE AUDIT WE WOULD REPORT TO YOU IF WE HAD ANY DISAGREEMENTS, UH, YOU KNOW, HERE.
SO WITH THAT, UH, BRIEF OVERVIEW OR MAYBE NOT SO BRIEF, JEFF WILL NOW TAKE YOU THROUGH THE, THE ACTUAL NUMBERS FOR, UH, DECEMBER 31ST, 22 ON EACH OF HIS PAGES, UH, THAT HE HAS SUMMARIZED HERE.
HE LISTS THE ACTUAL PAGE NUMBER IN THE, IN THE BIG REPORT WHERE THAT INFORMATION, UH, CAN BE FOUND AS WELL.
SO, UH, STARTING ON PAGE FIVE, THIS IS A GENERAL FUND.
THIS IS YOUR GENERAL FUND FUND BALANCE, UH, FOUR YEAR HISTORY HERE.
AND ALSO THE LEFT COLUMN IS JUST A CHANGE BETWEEN 2022 AND 2021.
SO YOU CAN SEE THE TOTAL FUND BALANCE INCREASED FROM 23.5 MILLION AT THE END OF 2021 TO 27.5 MILLION AT THE END OF 2022.
YOU'LL SEE THE, UH, FIVE DIFFERENT CATEGORIES HERE THAT THE FUND BALANCE IS CATEGORIZED INTO.
YOU HAVE THE NONS SPENDABLE FUND BALANCE, WHICH MEANS, UH, THE FUND BALANCE IS NOT IN SPENDABLE FORM.
YOU CAN'T, YOU CAN'T SPEND THAT AGAIN.
AND THAT'S 232,000 AND RESTRICTED IS, UH, SET ASIDE FOR CERTAIN ITEMS IN ACCORDANCE WITH NEW YORK STATE LAW.
SO IT CAN ONLY BE USED FOR THOSE, THOSE ITEMS. AND THAT'S, UM, THE EMPLOYEE BENEFIT ACCRUED LIABILITY AT 428,000.
THAT'S ESSENTIALLY ACCRUED VACATION AND SICK TIME FOR YOUR EMPLOYEES.
YOU HAVE A COMMITMENT OR, UM, WHAT ESSENTIALLY WOULD BE A, A BOARD EARMARK OR BOARD DESIGNATION FOR TAX TERTIARY, UH, CLAIMS AT $200,000.
AND YOU ALSO HAVE A SIGNED FUND BALANCE TOTALING $11.4 MILLION.
WITHIN THAT ASSIGNED CATEGORY ARE ANY AMOUNTS THAT THE BOARD USES TO BALANCE THE SUBSEQUENT YEAR'S BUDGET.
SO IF, IF WHATEVER NUMBER WAS PUT INTO THE 23 BUDGET TO TO, TO BALANCE THE BUDGET WOULD BE SHOWED AS A SIGNED FUND BALANCE AT DECEMBER 31ST, 2022, THAT NUMBER WAS $3.8 MILLION.
THERE'S ALSO $7.4 MILLION ASSIGNED FOR THE COURTHOUSE THAT WAS DONE VIA, UH, TOWN BOARD RESOLUTION.
AND SO THAT'S, UH, CARVING OUT A PIECE OF THAT FUND BALANCE TO BE USED, UM, FOR THOSE COSTS IN THE FUTURE.
THE RESIDUAL FUND BALANCE, OR WHAT WE REFER TO AS THE UNASSIGNED FUND BALANCE, OR NOT EARMARKED OR ENCUMBERED IN ANY WAY AVAILABLE FOR USE AT THE DISCRETION OF THE BOARD, $15.2 MILLION, UM, WHICH IS UP FROM ABOUT $12.6 MILLION IN 2021.
AND YOU CAN SEE, UM, IT HAS INCREASED WITH THE EXCEPTION OF 2020, WHICH WAS OBVIOUSLY AN UNUSUAL YEAR.
IT HAS INCREASED OVER THE FOUR YEARS FROM 7.5 UP TO 15, WHICH IS CERTAINLY, UM, A POSITIVE, UH, NO FOR THE TOWN.
UM, I'LL TAKE YOU THROUGH THAT ON THE NEXT SLIDE IF I COULD.
BUT JUST, UH, THE LAST NOTE HERE IS THAT 15.2 MILLION, UM, IS, IS ABOUT 68% OF, OF THE 23 BUDGET, WHICH IS, WHICH IS A, IT'S A VERY GOOD NUMBER.
IT SHOWS THAT THE TOWN'S IN GOOD FINANCIAL CONDITION.
UM, EVERY YEAR, YOU KNOW, WE ALWAYS IN THE BUDGET PUT IN MONEY FOR FUND BALANCE.
WE'RE TAKING MONEY OUT OF THE FUND BALANCE.
ARE WE TAKING, AND EVERY YEAR IT SEEMS LIKE OUR FUND BALANCE IS BETTER THAN WE ANTICIPATED.
IS THE BUDGET, UH, SO LIKE INCORRECT, WE'RE ON BASICALLY, UM, YOU KNOW, SPENDING, YOU KNOW, DELETING TOO MUCH FROM THE FUND BALANCE? OR IS THERE A PRACTICE THAT WE'RE USING, UM, FISCALLY PRUDENT.
THE PRACTICE THAT YOU'VE BEEN USING IS PROVEN TO BE FISCALLY PRUDENT.
IF IT WERE NOT, THAT UNASSIGNED FUND BALANCE WOULD BE GOING DOWN AND YOU'D BE EATING AWAY AT THAT.
THE ISSUE, UM, WOULD ARISE WHEN YOU'RE NOT GENERATING THAT MUCH SURPLUS IN YOUR BUDGET, OR LESS SURPLUS IN YOUR BUDGET THAN THE AMOUNT YOU'VE USED TO, TO BALANCE THE BUDGET, WHICH WOULD CAUSE YOU TO YOUR FUND BALANCE TO DECREASE INSTEAD OF INCREASE.
SO IF YOU'RE ABLE TO GENERATE BUDGETARY SURPLUS GREATER THAN THE AMOUNT YOU PUT IN YOUR BUDGET, YOU'RE GONNA BE INCREASING YOUR FUND BALANCE AND MOVING IN THE RIGHT DIRECTION.
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MONEY IN THE SURPLUS COULD DO TO APPROXIMATELY ZERO, SORRY,UM, BECAUSE, AND, AND I'LL TAKE YOU THROUGH THAT.
ALL THE FEDERAL MONEY WAS USED IN THE ENTERPRISE FUND OR, OR THE WATER FUND.
SO IT'S KIND OF NOT IN THE GENERAL FUND AT ALL.
SO IT'S NOT IN THE, SO IT'S NOT, NOT IN HERE AT ALL.
BUT IF, IF YOU WANT TO, THERE'S SOME, I'VE FORGOTTEN THAT.
UM, I COULD TAKE YOU THROUGH SOME OF THE DETAILS TO ANSWER SOME, YOU KNOW, HOW THE, HOW YOU, HOW IT CAME ABOUT.
UM, PAGE SIX IS THE BUDGET TO ACTUAL, ACTUAL SCHEDULE, UH, FOR THE GENERAL FUND.
AND THIS SHOWS YOUR BUDGET AS ADOPTED BY THE BOARD, THE FINAL BUDGET WITH ANY, YOU KNOW, TRANSFERS OR AMENDMENTS THAT WERE MADE DURING THE YEAR.
AND THEN THE THIRD COLUMN IS YOUR ACTUAL, AND THEN THE FOURTH COLUMN IS THE VARIANCE BETWEEN THE FINAL BUDGET AND YOUR ACTUAL, YOU CAN SEE THE FIRST LINE YOU ANTICIPATED COLLECTING 19.3 MILLION IN REVENUES, ACTUAL COLLECTIONS, 28, 21 0.8 MILLION.
SO YOU COLLECTED MORE THAN YOU ANTICIPATED BY 2.5 MILLION.
I HAVE SOME MORE DETAILS ON THE NEXT SLIDE.
ON THE EXPENDITURE SIDE OF THE BUDGET OR APPROPRIATIONS, YOU ANTICIPATED SPENDING ABOUT 27.4 MILLION AND YOU ONLY SPENT 15.7 OR ABOUT 12 MILLION LESS THAN THAT ADOPTED BUDGET.
AGAIN, I HAVE SOME MORE INFORMATION ON THE FOLLOWING SLIDES, BUT THE BULK OF THAT IS RELATED TO THE COURTHOUSE AND HOW YOU, HOW YOU BUDGETED THAT COURTHOUSE.
AND, AND HAVING SPENT IT, THE BUDGET ANTICIPATED UTILIZING $10.2 MILLION IN FUND BALANCE, HOWEVER, YOU GENERATED BUDGETARY SURPLUS OF 14.2.
SO YOU DID BETTER THAN YOUR BUDGET BY 14.2 ANTICIPATED USING 10.2.
THE DIFFERENCE BECOMES YOUR INCREASE IN FUND BALANCE, $4 MILLION.
SO THAT'S, THAT'S YOUR $4 MILLION AND HOW YOU AT, AT A HIGH LEVEL, HOW YOU, HOW YOU GOT THERE.
AND THEN YOU CAN SEE THE END ENDING FUND BALANCE, AS I MENTIONED BEFORE, 27.5, UM, PAGE SEVEN OF THE POWERPOINT.
JUST A FEW MORE DETAILS ON THE REVENUE PORTION OF THE GENERAL FUND'S BUDGET.
MOST OF YOUR REVENUES ARE QUITE CLOSE TO HOW YOU BUDGETED THEM.
NO SIGNIFICANT VARIANCES WITH THE EXCEPTION OF STATE AID.
UM, THAT'S MOSTLY THE MORTGAGE TAX.
THE MORTGAGE TAX GETS BUDGETED WITHIN STATE AID, UNDER THE NEW, UH, NEW YORK STATE CHART OF ACCOUNTS.
AND THE REAL ESTATE MARKET WAS VERY STRONG IN 2022.
AND YOU BUDGETED THAT NUMBER CONSERVATIVELY AND YOU ENDED UP COLLECTING $2 MILLION MORE THAN YOU ANTICIPATED.
SO THAT'S CERTAINLY PART OF, PART OF THE REASON WHY THE FUND BALANCE GOES UP.
YOU KNOW, OBVIOUSLY AS INTEREST RATES HAVE GONE UP, YOU KNOW, EFFECTS ON THE HOUSING MARKET AND, AND PEOPLE BUYING OR NOT SELLING THEIR HOMES BECAUSE THEY'RE IN, YOU KNOW, LOW INTEREST MORTGAGES ON THEIR HOMES.
AND WHY WOULD THEY SELL AND TAKE OUT A SIX, 7%? SO WE'LL PROBABLY ALL SEE, NOT JUST HERE, BUT EVERYWHERE, YOU KNOW, A SHARP DROP IN, IN MORTGAGE TAX.
CERTAINLY MORTGAGE TAX IS ALSO GENERATED WHEN FOLKS REFINANCE, UH, THEIR MORTGAGES.
UM, OBVIOUSLY THERE'S NOT GONNA REALLY BE ANY REFINANCINGS NOW BECAUSE RATES ARE HIGHER.
SO YOU KNOW, THAT'S A NUMBER TO PAY ATTENTION TO FOR 23.
THERE'S ALSO SOME POST COVID EFFECTING YOU TOO, CORRECT? YEAH.
THE PENT UP THE CITY, CORRECT? CORRECT.
AND WHAT, AND THE SALES TAX FIGURE IN THERE, SALES TAX IS IN THE TOWN OUTSIDE, RIGHT? IT'S NOT AS, I'LL GET TO THAT IN A FEW, IN A FEW SLIDES, BUT THAT WAS ALSO POSITIVE.
UM, PAGE EIGHT IS YOUR GENERAL FUND EXPENDITURES COMPARED TO THE BUDGET.
SIMILAR PRESENTATION IN THE GENERAL GOVERNMENT SUPPORT LINE, YOU SEE THE VARIANCE OF $10.6 MILLION IN 2022.
THE COURTHOUSE WAS BUDGETED AS AN APPROPRIATION.
IT WAS ALSO PART OF THE APPROPRIATION OF FUND BALANCE.
SO THE, THE, THE BUDGET, THE WAY THE BUDGET WAS CRAFTED, IT WAS ANTICIPATED TAKING DOWN FUND BALANCE TO USE ON THE COURTHOUSE.
AND IT WAS DONE THAT WAY, UH, AT LEAST FOR A NUMBER OF YEARS.
AS LONG AS I'VE BEEN COMING HERE AS THE AUDITOR.
UM, THE TOWN CHANGED THAT POLICY BY JUST ASSIGNING THE FUND BALANCE.
THAT WAY YOU WON'T HAVE TO PUT IT IN YOUR BUDGET EVERY YEAR AND YOU WON'T HAVE TO APPROPRIATE THE FUND BALANCE.
IT WOULD HAVE TO BE TAKEN DOWN THROUGH A TOWN BOARD RESOLUTION, UM, AND USED IN THAT MANNER.
BUT BY DOING THAT, YOU AVOID THESE LARGE VARIANCES, UH, BETWEEN BUDGET AND ACTUAL.
SO IN THE FUTURE, YOU SHOULDN'T SEE, UM, SUCH A LARGE VARIANCE THERE.
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BE A LITTLE, A LITTLE CLOSER TO THE ACTUAL, THAT WAS 7.7 MILLION.IN ADDITION, THERE WAS 1.6 MILLION RELATED TO UNCOLLECTED TAXES IN A, IN A FAVORABLE MANNER.
UM, 'CAUSE THE TAXES, THE TAX COLLECTIONS WERE POSITIVE OR FAVORABLE IN 2022, MEANING YOUR TAX TAXES RECEIVABLE WENT DOWN SO YOU WERE ABLE TO COLLECT SOME OF YOUR BACK TAXES.
UM, WHEN YOU DO THAT, THAT'S, UM, A FAVORABLE IMPACT TO YOUR BUDGET.
AND I, AND I WOULD IMAGINE WE STILL, WELL THAT'S FOR 22.
SO FOR 23 WE SHOULD REALIZE SOME MORE BACK TAXES.
SO THAT WAS 1.6 MILLION OF, OF THE VARIS THERE.
JOE, DO YOU THINK IN TERMS OF BACK TAXES AS A FOLLOW UP TO OWEN'S, UM, UM, YOU KNOW, COMMENTS, DO YOU THINK THE JUDGES ARE GONNA RULE ON, YOU KNOW, ON THE PETITION THAT WE FILED THIS YEAR? NO, THAT WILL TAKE SOME TIME.
I WOULD SUGGEST MAYBE AN ADDITIONAL LETTER GOING OUT THAT'S QUICKER WAY TO RECEIVE THOSE BACK TAXES.
UM, BUT WE WILL CONTINUE TO FOLLOW UP ON THAT.
AND I THINK THERE MAY BE OTHER MEASURES BESIDES THE FORECLOSURE PROCESS ITSELF TO TRY TO ASSUME SOME OF THOSE BAD TAXES.
SO DO YOU THINK THAT SHOULD DO ANOTHER LETTER LIKE NOW WE DID
AND IF YOU WERE TO SPEAK TO THE RECEIVER OF TAXES ALSO YEAH.
TO SEE IF SHE AGREES THAT IT'S A GOOD TIME TO GET THAT LETTER OUT.
I THINK IT'S PRETTY EFFICIENT.
JUST, UH, WITH REGARD TO THE, TO THE TAXES, KEEP IN MIND, UM, YOUR GENERAL FUND BUDGET'S ABOUT $30 MILLION.
HOWEVER, THE GENERAL FUND'S RESPONSIBLE FOR COLLECTIONS AND REMITTANCES OF ALL THE MUNICIPALITIES WITHIN THE TOWNS TAXES WELL OVER $500 MILLION.
SO YOU DON'T SEE THAT WHEN YOU LOOK AT THE BUDGET, BUT IT REALLY IS A VERY SIGNIFICANT MATTER THAT THE TOWN HAS TO CONTEND WITH.
SO WHEN WE SAY UNCOLLECTED TAXES, IT'S NOT JUST THE TOWN TAXES, IT'S ALL THE SCHOOLS, THE COUNTIES, IT'S EVERYBODY WITHIN THE TOWN, RIGHT? I BELIEVE IT'S CLOSE TO CLOSER TO 600 MILLION AT THIS POINT.
SO IT'S ON THE FULL REPORT ON PAGE 30.
SO IT'S, IT'S A SIGNIFICANT DOLLAR AMOUNT THAT TOWN HAS TO COLLECT.
AND THEY'RE, THEY'RE RESPONSIBLE.
YOU'RE RESPONSIBLE FOR MAKING EVERYBODY ELSE WHOLE, MAKING SURE THEY HAVE ALL THEIR TAXES.
IT IS, IT IS A SIGNIFICANT BURDEN.
SO POTENTIALLY IF WE DON'T COLLECT, WE STILL HAVE TO PAY OUT.
BUT WE DO GET THE, UH, THE, WHAT IS IT, THE PENALTIES AND INTERESTS.
IT'S NOT THE, IN TERMS OF THE BACK, YOU KNOW, I'M JUST ASKING ABOUT THE BACK TAXES AGAIN, YOU KNOW, FROM YOUR CLIENTS.
ARE WE SORT OF WITHIN THE RANGE IN TERMS OF THE COLLECTION PROCESS? OR ARE, ARE OTHER COMMUNITIES DOING MUCH BETTER OR WORSE OR WHATEVER? CAN, CAN YOU SAY I I, I WOULD NOT KNOW OFF THE, OFF THE TOP OF MY HEAD.
I MEAN, ALL THE TOWNS AND, YOU KNOW, WESTCHESTER IS UNIQUE IN NEW YORK STATE.
IT'S THE ONLY COUNTY IN THE STATE OF NEW YORK THAT I'M AWARE OF.
I DON'T KNOW ABOUT NEW YORK CITY, BUT EVERYBODY ELSE WHERE THE TOWNS ARE RESPONSIBLE FOR MAKING THE OTHER GOVERNMENTS WHOLE IN THE OTHER COUNTIES, AGAIN, OUTSIDE OF NEW YORK CITY, IT'S THE COUNTY THAT HAS TO MAKE THE TOWNS AND CITIES AND VILLAGES MAKE THEM WHOLE.
ONLY IN WESTCHESTER, YOU KNOW, THE COUNTY HERE IS MADE WHOLE AND THEN ALL THE TOWNS ARE LEFT KIND OF HOLDING THE BAG FOR, FOR UNCOLLECTED TAXES AND THE BIG CITIES, UH, IN WESTCHESTER.
SO IT'S REALLY HARD TO SAY, YOU KNOW, EVERYBODY OF COURSE HAS UNCOLLECTED, YOU KNOW, TAXES.
IT REALLY DEPENDS ON HOW AGGRESSIVE, YOU KNOW, THEY ARE BEING, UH, AND TRYING TO WORK WITH PEOPLE, CREATE PAYMENT PLANS, WHAT, YOU KNOW, WHATEVER IT IS THAT YOU KNOW, THEY CAN GET THE MONEY IN.
'CAUSE IT'S NOT REVENUE FOR YOU UNTIL YOU, YOU COLLECT IT.
SO, YOU KNOW THAT THAT'S REALLY THE, THE BIG ISSUE IN THIS CASE BECAUSE YOUR COLLECTION'S IMPROVED THIS YEAR, THE WAY IT'S ACCOUNTED FOR IN THE BOOKS, YOU ENDED UP, AS JEFF SAID, WITH THIS POSITIVE 1.6 MILLION COMPARED TO WHAT WAS ANTICIPATED IN THE BUDGET.
AND I BELIEVE THIS YEAR WE RECEIVED AT LEAST ONE VERY LARGE PAYMENT SO FAR.
SO I THINK THE NEXT YEAR COMING UP IT WILL BE SIMILAR, HOPEFULLY EVEN HIGHER.
WHEN YOU SAY WE'RE IN GOOD SHAPE, ARE YOU TAKING INTO CONSIDERATION THAT A CONSIDERABLE AMOUNT OF REVENUE OF ONE SHOTS FOR BUILDING PERMITS FROM, UH, COMPANIES THAT ARE NOT GOING TO BE ABLE TO SUSTAIN THE AMOUNT OF CONSTRUCTION THAT THEY'RE DOING? IS THAT WHAT YOU'RE, IN OTHER WORDS, ARE YOU LOOKING AT WE'RE IN GOOD SHAPE FOR THIS YEAR, BUT NOT, NOT PULLING OUT THE ONE SHOTS TO MAKE SURE THAT WE'RE IN GOOD SHAPE GOING FORWARD WITHOUT THOSE ONE SHOTS.
I, I'LL JUST SAY THE BUILDING PERMITS, I BELIEVE ARE ALSO IN THE TOWN OUTSIDE VILLAGES FUND.
SO ALSO NOT PART OF THIS GENERAL FUND FIRST POINT.
AND ALSO THAT'S TRUE THAT THERE WERE SOME VERY SIGNIFICANT BUILDING PERMITS THAT CAME IN.
BUT THE THING THAT I WOULD POINT TO IS THAT YOU DIDN'T BUDGET THOSE ONE SHOT REVENUES.
'CAUSE WHEN YOU BUDGET A ONE SHOT REVENUE, THE NEXT YEAR YOU HAVE A HOLE TO FILL AUTOMATICALLY.
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IT'S KIND OF A BAD PRACTICE TO DO THAT.AND YOU, AND, AND, AND YOU'LL SEE THROUGH THE REST OF THE POWERPOINT, YOU, YOU REALLY DIDN'T BUDGET ANY OF THOSE ONE SHOTS.
UM, IF YOU HAD BUDGETED SOME OF THOSE ONE SHOTS, I WOULD SAY, WELL, OKAY, YOU DID OKAY THIS YEAR, BUT EXACTLY, KIND OF TO YOUR POINT, UH, YOU'VE CREATED A HOLE IN THE FUTURE.
I DON'T, I I DON'T SEE ANY INSTANCES OF THAT IN YOUR, IN YOUR BUDGET.
SO DOES THAT HELP ANSWER YOUR QUESTION? RIGHT.
EXCEPT, UH, I DO KNOW THAT AS PART OF THE BUDGET, THE, UH, WE GET NUMBERS FROM THE BUILDING DEPARTMENT AS TO WHAT THEY ANTICIPATE IN BUILDING PERMIT FEES.
AND, UH, YOU'RE SAYING THAT THOSE BUILDING PERMIT PERMIT FEES OTHER THAN THE ROUTINE ONES ARE NOT INCLUDED IN OUR BUDGETS? WELL, I THINK THERE WAS SOME VERY SIGNIFICANT ONES IN 2022, SEVERAL MILLION DOLLARS, RIGHT? MM-HMM.
SO WE DID, WE DID BUDGET FOR THE INCREASED BUILDING PERMITS WITHIN THE YEAR, HOWEVER WE GOT THAT PLUS SOME.
SO THAT'S WHY YOU WERE CONSERVATIVE.
BUT IT'S NOT ALWAYS, ALWAYS GOING TO BE THERE.
BUT WE DID BUDGE, WE DID ANTICIPATE GETTING AN INCREASE IN THE BUILDING PERMIT FEES.
BUT WE DIDN'T ANTICIPATE RIGHT.
BUT WE WERE CONSERVATIVE IN, IN THE ESTIMATIONS.
BUT THAT'S, THAT KIND OF BEGS THE QUESTION IN, YOU KNOW, WHETHER IT WAS CONSERVATIVE OR NOT.
THE FACT IS THAT IT WAS BUDGETED IN, BUT, AND THE FACT IS, FACT, WE DID GET THE FACT IS THAT WE DID GET ADDITIONAL REVENUE ABSENT THAT MM-HMM.
BUT THAT WAS KIND OF FACTORED INTO FRANCIS'S QUESTION.
AND WHAT WOULD, WHAT WOULD BE THE CONDITION IF WE DIDN'T HAVE THOSE ONE SHOTS GOING FORWARD IN THE NEXT YEAR? WELL, WE, WE WOULD HAVE TO BAL WE WOULD HAVE TO BALANCE OUT THE BUDGET USE FUND BALANCE TO BALANCE THE BUDGET MORE, FUND BALANCE TO BALANCE IT OR CUT EXPENDITURES SOMEWHERE IN SOME OTHER PART OF THE BUDGET.
WHICH IS MY POINT IS THAT IN LATER IN, IN SUBSEQUENT YEARS NOW, NEXT YEAR LOOKS GOOD AS WELL, UH, FOR BILLING PERMIT FEES.
AND I'M CONCERNED ABOUT THE CRASH THAT OCCURS WHEN THE ONE SHOTS ARE NOT THERE.
UM, AND THAT'S WHY YOU BUILD SOME FUND BALANCE.
AND THAT'S WHY THE FUND BALANCE NUMBERS THAT YOU HAVE ARE IMPORTANT.
'CAUSE WHEN THOSE BUILDING PERMITS OR WHATEVER THE ECONOMICALLY SENSITIVE REVENUES ARE, UM, START TO TRICKLE DOWN WHEN THE, MAYBE THE ECONOMY'S NOT DOING SO WELL, YOU'LL HAVE TO GO AND DIP INTO YOUR FUND BALANCE A LITTLE BIT.
AND WHEN WE HAD THE COVID, THE PANDEMIC, YOU KNOW, WE DID, WE DID THAT AND WE WERE ABLE TO WEATHER THE STORM, YOU KNOW, NICELY WITHOUT LAYOFFS AND WITHOUT, YOU KNOW, TAX INCREASE.
I MEAN, WE BASICALLY, BUT THAT WAS BECAUSE WE HAD THE ONE SHOTS.
BUT THE POINT THAT WAS, THAT WAS DUE BECAUSE WE WERE ABLE, WE'VE ABLE TO UTILIZE THE ONE SHOT DON AVOID THAT.
BUT I'M TALKING THE PAST LIKE 10 DOZEN YEARS OR WHATEVER, WE'VE HAD, UM, YOU KNOW, TIMES WHERE IT'S BEEN GOOD AND TIMES'S NOT AS GOOD AND WE'VE BEEN ABLE TO, YOU KNOW, WEATHER THE STORM THROUGH, YOU KNOW, DEALING WITH THE BUDGET APPROPRIATELY, TAKING MONEY FROM THE FUND BALANCE WHILE MAINTAINING THE MINIMUM THAT WE SHOULD HAVE AS A FUND BALANCE, IN OTHER WORDS.
SO, UM, WITH THE ONE SHOTS, UM, WE, WE WILL BE, WE'VE ADDED MORE THE SURPLUS INTO THE FUND BALANCE.
SO THAT ACTS AS AN EXTRA CUSHION IS WHAT YOU'RE SAYING? YES.
BUT WE DO, IN ADDITION TO WHAT WE HAD EVEN IN THE PAST, BUT WE ALWAYS MAKE SURE THAT WE STAY WITHIN OUR FUND BALANCE POLICY, WHICH HAS A CEILING AND A FLOOR, RIGHT.
BECAUSE WE DON'T WANT TO TAX TOO MUCH AS PART OF OUR FUND BALANCE POLICY, RIGHT? MM-HMM.
SO, SO WE DIDN'T EXCEED THAT IN THIS NO.
AND WE DIDN'T HAVE, AND DID WE HAVE SURPLUS OUTSIDE OF WHAT WE'RE PUTTING INTO THE FUND BALANCE? WELL, WE DID FOR THE CEILING.
WE DID BRING IN MORE THAN, THAN WE HAD ANTICIPATED.
SO, UM, AND WHERE ARE THE, WELL, I GUESS YOU'LL TELL US HOW THOSE MONIES ARE ALLOCATED, WON'T YOU? OKAY, I'LL LET JEFF CONTINUE.
'CAUSE NOT ALL ONE SHOTS ARE CREATED EQUAL.
SO I, YOU KNOW, WE, WE ALSO HAVE PLACES WHERE THEY KNOW THEY'RE GETTING A ONE SHOT, BUT THEY ALSO USE IT FOR LIKE A ONE-TIME PURPOSE MM-HMM.
SO THEY MIGHT, YOU KNOW, BE GETTING SOME KIND OF GRANT FOR, YOU KNOW, A MILLION DOLLARS AND THEY'RE SAYING, WELL, WE'RE GONNA REPAVE THE, THE ROADS OR, YOU KNOW, OR BUILD THIS THING OR, OR, YOU KNOW, BUY A VEHICLE.
YOU KNOW, SO THAT'S A ONETIME ONE SHOT REVENUE FOR A ONE SHOT PURPOSE.
SO THEY'RE NOT ALWAYS, YOU KNOW, A BAD THING.
BUT IF THEY'RE JUST USED FOR REGULAR
[00:25:01]
OPERATING, OPERATING EXPENSES, SALARIES, BENEFITS, AND AND STUFF, THEN YES, WHEN THAT ONE SHOT GOES AWAY, YOU HAVE TO FILL THE HOLE THE OTHER WAY BY EITHER CUTTING EXPENSES TO BRING THEM BACK IN LINE WITH THE, YOU KNOW, THE REVENUES OR FINDING OTHER REVENUE SOURCES MM-HMM.BUT WE, IN THIS SENSE, WE'VE HAD A BIT OF A RUN, ALTHOUGH SOME EXPENSES AND BECAUSE WE HAD ARPA MONEY, WE HAD OTHER, SO THAT HELPED US WEATHER THE STORM TOO.
AND NOW THIS IS A CONTINUATION OF HAVING, YOU KNOW, LIKE FIGURING ARPA BEING ONE SHOT AND THIS BEING ONE, THE SUBSEQUENT ONE SHOT.
AND THEN, AND THEN WE HAVE TO THINK ABOUT THAT AS WE PLAN OUT NEXT YEAR'S BUDGET.
AND WE ALSO HAVE OTHER ONE SHOTS COMING UP.
SO, YOU KNOW, THE THING IS THAT, WELL, THAT EXTENDED YEAR TOO, RIGHT? FOR THE FUTURE OF THE TOWN, IT'S NOT THAT, YOU KNOW, IT LOOKS LIKE ECONOMIC DEVELOPMENT IS, IS ENDING.
IT LOOKS LIKE THERE'S A LOT OF POTENTIAL, UM, OPPORTUNITIES FOR THE TOWN, YOU KNOW, GOING FORWARD.
I, I DON'T THINK WE'RE EVER GONNA SEE SOMETHING LIKE REGENERON, UH, IN THE FUTURE ONCE THEY BUILT OUT THEIR SITE.
IT, IT'S JUST A PHENOMENAL SITE.
NOW, THERE MAY BE SOME SMALL, UNLESS THEY'RE A PARCEL THAT I DON'T KNOW ABOUT AND THE APPROPRIATE AREA IN THE TOWN, GREENBERG, BUT I DON'T THINK THAT'S THE CASE.
SO MY CONCERN IS THAT IF YOU ARE USING THE ONE SHOTS, AS YOU SAY, FOR OTHER THAN SPECIFIC PROJECT, AND YOU'RE USING INSTEAD TO PEOPLE KEEP THE TAX RATE DOWN WHEN THOSE ONE SHOTS GO AWAY, THERE'S A RECKONING.
I'M JUST, I'M JUST MINDFUL THAT IN THE PAST THERE'S BEEN A 0% INCREASES, 0% INCREASES, 0% INCREASE, AND THEN A 24% INCREASE.
AND WE'VE NEVER GONE TO GO BACK FOR THOSE DAYS.
AND SO I JUST, YOU'RE THE AUDITORS, IF YOU'RE SAYING THAT WE'RE IN GOOD SHAPE WITH THE WAY WE'RE USING FUND BALANCE AND THE ONE SHOTS, UM, THEN, UH, THAT YOUR POSITION.
SO I JUST WANNA MOVE ON TO THE TOWN OUTSIDE VILLAGES FUND ON PAGE NINE, ALSO A POSITIVE YEAR FOR THE TOWN OUTSIDE VILLAGES FUND REVENUES WERE GREATER THAN ANTICIPATED.
$4.5 MILLION EXPENDITURES WERE LESS THAN ANTICIPATED, 5.4 MILLION, UM, GIVING YOU APPROXIMATELY A $10 MILLION BUDGETARY SURPLUS.
SO YOU DID BEAT YOUR 10 OUTSIDE VILLAGE'S BUDGET BY ABOUT 10 MILLION.
KEEP IN MIND, UM, YOU ANTICIPATED UTILIZING 3.7 MILLION OF FUND BALANCE.
SO AGAIN, THE DIFFERENCE OF THE DELTA IS YOUR ACTUAL INCREASE IN FUND BALANCE, AND THAT WAS $6.2 MILLION.
UM, THE BEGINNING OF THE YEAR FUND BALANCE WAS 28.7 MILLION.
IT WAS CERTAINLY A POSITIVE YEAR FOR THE TOWN OUTSIDE VILLAGES FUND.
AND SOME OF THE THINGS WE'VE ALREADY KIND OF DISCUSSED, YOU CAN SEE ON PAGE 10, UM, MORE DETAILS ON THE TOWN OUTSIDE VILLAGE'S REVENUE SIDE OF THE BUDGET, NON-PROPERTY TAXES, 1,392,000 GREATER THAN THE BUDGET.
THAT'S YOUR, THAT'S YOUR SALES TAX DISTRIBUTION FROM THE COUNTY.
UH, THAT WAS ABOUT $1.2 MILLION GREATER THAN YOUR BUDGET.
AND THE HOTEL TAX WAS ABOUT 350,000 GREATER THAN THE BUDGET.
AND WHAT PERCENTAGE OF THAT DOES THAT COUNTY MONEY REPRESENT OF? UH, WELL, I GUESS TO YOU OR TO THE COUNTY? UM, BOTH IF YOU HAVE THAT.
UM, I MEAN, I BELIEVE OVERALL COUNTY SALES TAX WAS UP ABOUT 10% YEAR OVER YEAR FROM 21 TO 22.
SO IT'S 20% TO THE MUNICIPALITY FROM THE 1%, RIGHT.
THERE'S A WHOLE, AND THEN THERE'S ANOTHER DIFFERENT YEAH.
IT'S, IT'S, IT'S A, YEAH, I WAS JUST, BUT OVERALL, LIKE A BLENDED, YOU KNOW, AMOUNT, LIKE WHEN WE LOOK AT THE COUNTY IN TOTAL AND WE SEE THEIR GROSS SALES TAX COLLECTIONS AND THEIR GROSS DISTRIBUTIONS TO THE MUNICIPALITIES IN SCHOOLS, IT IS APPROXIMATELY 24%.
SO THEIR NUMBER IS UP SIGNIFICANTLY.
YOU KNOW, IT'S ABOUT 10% HIGHER THAN THE PREVIOUS YEAR.
SO THEREFORE THAT 24% WILL BE PERCENT WILL BE 10% HIGHER FOR EVERYBODY.
IS THE SALES TAX AND MORTGAGE TAX AND HOTEL TAX, UH, WHY DOES THE PROGNOSIS FOR 2023? DO YOU HAVE ANY IDEA? I DON'T DO PROGNOSTICATIONS,
BUT, YOU KNOW, TO THIS POINT IT'S
[00:30:01]
BEEN, IT'S BEEN STRONG.BUT YOU KNOW, YOU SEE THE MACROECONOMIC EFFECTS OF THE HIGHER INTEREST RATES AND WHAT THAT'S, YOU KNOW, BEGINNING TO, TO TAKE EFFECT ON THE HOUSING MARKET.
AND SO THAT WOULD IMPACT THAT.
IT'LL IMPACT STATE MONIES, YOU KNOW, COMING IN AND, AND, AND SO FORTH.
JUST A LITTLE BIT ON THE MAGNITUDE TO, TO THE TOWN, THE BUDGET FOR THE SALES TAX WAS 11 MILLION.
SO 1.2 MILLION GREATER THAN ANTICIPATED, OR ABOUT 10%, YOU KNOW, DO YOU REMEMBER HOW MUCH WE BUDGETED FOR 2023? I THINK WE JUST UPPED IT JUST A LITTLE BIT.
SO THERE'S ALSO, UM, AND HOW MUCH WAS THE HOTEL TAX TOTAL THAT WE GOT? UM, ONE POINT ABOUT 1.1 MILLION.
AND THAT SHOULD BE GOING UP, UP FROM 700,000 IN 2021.
AND THAT SHOULD GO UP THIS YEAR.
I THINK ALSO IT SHOULD BE HIGHER.
HOPEFUL WOULD SEE, I MEAN, OBVIOUSLY, YOU KNOW, COMING OUTTA COVID AND OBVIOUSLY ASS HOTEL OCCUPANCY BEGINS TO RETURN TO, YOU KNOW, PRE COVID LEVELS.
THAT THAT'S, YOU KNOW, WHAT WE'RE SEEING IN THE PLACES THAT DO HAVE A HOTEL TAX THAT, YOU KNOW, THIS YEAR WAS, WAS BETTER CERTAINLY THAN 20 AND 21.
I KNOW THERE ARE A NUMBER OF HOTELS LIKE ARROWWOOD AND THE ONE OVER IN NEW ROCHELLE, THE, WHATEVER THAT WAS.
YEAH, SO THAT'S FAIRLY CLOSE TO THE PRE, UH, COVID NUMBERS.
UM, IT WAS ALWAYS, IT EVENTUALLY, ONCE IT KICKED IN FOR THE FULL YEARS, IT WAS OVER A MILLION DOLLARS.
SO IT IS, WE'RE, WE'RE PRETTY CLOSE TO WHAT IT USED TO BE.
THE DEPARTMENTAL INCOME, WHICH ENCOMPASSES ALL THE VARIOUS FEES, UM, THAT THE VARIOUS TOWN DEPARTMENTS COLLECT WAS 1.4 MILLION GREATER THAN THE BUDGET.
THE LARGEST OF THAT WAS, UM, POLICE FEES AT 1.1 MILLION, UM, LICENSES AND PERMITS 2.2 MILLION GREATER THAN THE BUDGET.
AND THAT'S WHERE THE BUILDING PERMITS ARE HOUSED.
SO THE BUILDING PERMITS BY THEMSELVES WERE 1.7 MILLION MORE THAN THAN THE BUDGET.
AND THAT, THAT WAS, I THINK, MOSTLY THE REGENERON.
SO, I MEAN, IT WAS A REALLY SIGNIFICANT, UM, INCREASE FROM 21 TO 22.
I, I CAN SEE HERE NOW THAT YOU DID INCREASE THE BUDGET, 'CAUSE YOU BUDGETED 6.9 GREATER THAN YOU HAD COLLECTED IN 2021, BUT NOT TO THE FULL EXTENT THAT YOU COLLECTED.
SO IT REALLY WAS A, ON THAT LINE ITEM, A TREMENDOUS INCREASE AND A TREMENDOUS INCREASE OVER THE BUDGET.
SO, UM, I WANTED TO POINT OUT IN THE FEDERAL AID, THE TOWN OUTSIDE VILLAGES DID BUDGET TO UTILIZE SOME ARPA FUNDS THERE, BUT NONE OF IT ENDED UP BEING RECOGNIZED IN THE TOWN OUTSIDE VILLAGES FUND.
SO THAT'S ACTUALLY A SHORTFALL IN THE BUDGET.
HOWEVER, SOME, UM, FEMA AID DID COME IN, WHICH WASN'T BUDGETED FOR KIND OF, AND THAT, THAT KIND OF LIKE REVERSED IT, SOME OF IT IT OFFSET.
SO WE ENDED UP WITH A SHORTFALL IN FEDERAL AID OF $1.1 MILLION HERE.
UM, ALL SAID AND DONE, YOU'RE, YOU'RE, YOU DID BEAT THE BUDGET ON THE REVENUE SIDE BY ABOUT $4.5 MILLION.
SO THOSE ARE KIND OF THE HIGHLIGHTS THERE.
ON PAGE 11, YOU CAN SEE, UM, SOME OF THE EXPENDITURE CATEGORIES, UM, REALLY SPRINKLED THROUGHOUT THE BUDGET.
YOU DID A GOOD JOB OF, YOU KNOW, KEEPING THE COST LESS THAN, YOU KNOW, ANTICIPATED.
SO THOSE, UM, THOSE AGGREGATED TO ABOUT 5.4 MILLION, YOU KNOW, IN THE TOWN OUTSIDE VILLAGES FUND.
AND, AND ONCE AGAIN, 6.2 MILLION WAS IN NET IMPACT BRINGING YOU TO, UH, 35 MILLION.
THAT RESIDUAL FUND BALANCE THAT I TALKED ABOUT.
UM, IT'S ABOUT 17% OF YOUR BUDGET.
SO NOT AS HIGH AS A PERCENTAGE AS THE GENERAL FUND, BUT STILL, YOU KNOW, UH, WHAT I WOULD CONSIDER A SIGNIFICANT, UH, A HEALTHY NUMBER.
SO WHEN I'M LOOKING AT, UM, THESE NUMBERS, I, THEY'RE FOR 2022, BUT HAVE ALL THE, UM, ALL THE COMMITTED MONEY'S BEEN PAID OUT AND FACTORED INTO THE REVENUE, IS THAT FROM 22? IS THAT A
I'M NOT UNDERSTANDING ME EITHER.
TRANSLATE, IN OTHER WORDS, OUR FUNDS THAT ARE EARMARKED FOR, FOR CERTAIN EXPENDITURES, WERE THOSE EXPENDITURES ACTUALLY EXPENDED, OR IS THAT MONEY STILL IN THE BUDGET TO BE SPENT? I HAVE NOT REFLECTED
[00:35:01]
THE, THE VARIANCE COLUMN.IT'S THE DIFFERENCE BETWEEN WHAT WE THOUGHT WE WERE GOING TO SPEND AND THE BUDGET MM-HMM.
BUT WHAT WE ACTUALLY SPENT IS EVERYTHING THAT WAS COMMITTED RIGHT.
BECAUSE THE, WE HAVE POSITIVE VARIANCES, SO WE DIDN'T SPEND EVERYTHING WE SAID WE WERE GOING TO SPEND.
I KNOW, BUT DID WE COMMIT TO MONIES TO BE SPENT THAT WE HAVEN'T SPENT YET THAT STILL HAVE TO, THAT STILL COME DUE? RIGHT.
ARE WE OVERCOMMITTED BASED UPON I DON'T BELIEVE SO.
'CAUSE THESE NUMBERS, STEREOTYPES DON'T KNOW WHAT I'M TALKING ABOUT.
SO, SO THESE NUMBERS, WHAT THEY TAKE INTO ACCOUNT IS ANYTHING THAT IS OWED AS OF DECEMBER 31ST, 2022.
WELL, THAT'S, THAT'S BASICALLY WHAT I WAS ASKING.
ACCOUNTS PAYROLL, WE DOES TAKE THAT.
SO LIKE IF, IF THERE'S A BILL THAT COMES IN, YOU KNOW, UH, SOMEBODY DID SERVICE IN DECEMBER, THEY SENT THE INVOICE IN JANUARY FOR $10,000, THEY'LL PICK THAT UP AS A DECEMBER EXPENSE AND MAKE IT ACCOUNTS PAYABLE.
AND THEY GO OUT A COUPLE MONTHS.
AND THEY GO OUT, YOU KNOW, UNTIL THEY CLOSE, YOU KNOW, THEY GO OUT A COUPLE OF MONTHS AND JUST MAKE SURE THAT EVERYTHING THAT, YOU KNOW, MAYBE COMES IN IN 23 BUT REALLY RELATES TO 22 IS IS BROUGHT BACK TO 22.
WE SAY YOU GOT TILL FEBRUARY TO GET IN YOUR 2022 EXPENSES AFTER THAT.
SO SHIFTING GEARS SOMEWHAT TO, UH, TO THE PROPRIETARY FUNDS OF THE TOWN ON PAGE 12, THERE'S THREE DIFFERENT PROPRIETARY FUNDS.
TWO, UH, INTERNAL SERVICE FUNDS, WHICH ARE JUST, UH, THE REVENUE SOURCE OF THOSE FUNDS ARE JUST CHARGES TO OTHER FUNDS.
SO IT'S KIND OF LIKE INTERNAL ACCOUNTING.
ONE IS THE INTRA GOVERNMENTAL SERVICES FUND, AND THE OTHER IS THE RISK RETENTION FUND.
AND THAT'S WHERE YOUR LIABILITY, UH, CLAIMS WOULD BE PAID OUT OF AND, AND, AND THOSE SORTS OF THINGS.
THEY'RE MEANT TO BE, UM, YOU KNOW, BREAK EVEN SO TO SPEAK.
THEY'RE NOT, YOU KNOW, THEY'RE, THEY'RE MEANT TO ALLOCATE COSTS AND, AND NOT KEEP, UH, EX EXCESS.
UM, BUT JUST KIND OF BE THERE AS, AS AN ACCOUNTING MECHANISM AND BREAK EVEN.
CAN WE GET A BREAKDOWN OF THOSE INTERGOVERNMENTAL FUNDS ALLOCATIONS? I GUESS THAT'S FOR YOU, ROBERTA.
THAT'S OUTSIDE OF, IT'S, IT'S ALL IN HERE.
I CAN GIVE YOU A TRIAL BALANCE THAT WILL SHOW YOU BY, BY LINE ITEM.
IF THAT'S WHAT YOU'RE ASKING FOR.
SO I GUESS, UM, THOSE FUNDS ARE BASICALLY AT A BREAKEVEN.
THERE'S NOT, THERE'S NOT ANY EXTRA, EXTRA IN THOSE FUNDS, UH, TO SPEAK OF.
THEN THERE'S THE THIRD IS THE WATER FUND.
AND, UM, AFTER YOU'RE ACCOUNTING FOR THE LONG-TERM LIABILITIES OF THE WATER FUND, UM, WHERE'S THAT? THERE'S, UH, BOTTOM RIGHT HAND SIDE, THAT $26.7 MILLION.
THIS IS MEANT TO BE A CONVERSION BECAUSE THE WATER FUND IS, ISN'T ACCOUNTED FOR THE SAME WAY AS THE GENERAL FUND.
ALL THE LIABILITIES ARE, LONG-TERM LIABILITIES ARE IN THERE.
IT'S A FULL ACCRUAL FUND, LIKE A FOR-PROFIT ENTITY WOULD BE ACCOUNTED FOR.
UM, SO WE'RE KIND OF DOING A CONVERSION HERE TO MAKE IT MORE COMPARABLE TO THE GENERAL FUND AND THE TOWN OUTSIDE VILLAGES FUND.
SO WHEN WE DO THAT COMPARISON, WE SEE THAT THE, THE WATER FUND HAS FUND BALANCE OF ABOUT $26.7 MILLION.
AND THAT'S, YOU KNOW, KEEP IN MIND THE WATER FUND ALWAYS HAS RECEIVABLES OUTSTANDING.
'CAUSE YOU KNOW, YOU DON'T COLLECT AS SOON AS YOU BILL FOR THE WATER.
SO YOU ALWAYS, YOU'RE ALWAYS BILLING AND YOU'RE ALWAYS, YOU KNOW, COLLECTING.
SO YOU HAVE TO COVER SOME OF THOSE RECEIVABLES, UM, AND OTHER THINGS LIKE THAT.
SO THAT'S JUST WHAT'S LEFT IN THE WATER FUND AS OF DECEMBER 31ST, 2022.
AND ULTIMATELY THIS FUND DOES NEED SOME MONEY BECAUSE OBVIOUSLY THERE WOULD BE, YOU KNOW, FUTURE INFRASTRUCTURE UPGRADES AND, AND NEEDS, YOU KNOW, TO KEEP THE WATER SYSTEM GOING.
NOW, WHERE DOES THIS FALL WITHIN THE, THE PARAMETERS OF THE FLOOR AND CEILING FOR THE WATER FUND? THE WATER FUND IS DONE, IS DONE SEPARATELY BECAUSE ALL OF THE REVENUES FOR THE WATER FUND WE COLLECT TO COVER ALL THE EXPENSES OF THE WATER FUND.
SO IT HAS NOTHING TO DO WITH THE FUND BALANCE PROCESS.
I WAS JUST WONDERING IF IT HAS, UM, A FLOOR AND A CEILING FOR THAT AS SEPARATE THAT DOES NOT NO, IT'S, IT'S NOT A SEPARATE ONE.
BUT THEY DO HAVE, UM, OUTSIDE ANALYSTS THAT LOOK AT THIS ON A REGULAR BASIS AND THEY MONITOR IT TO SEE WHAT THE RATES NEED TO BE.
SO THERE'S A WHOLE COMMITTEE THAT LOOKS INTO IT.
[00:40:01]
THAT WE TALK TO MM-HMM.AND, AND ANYONE, I, I ALWAYS INVITE PEOPLE TO THE ANTENNA BOARD MEETINGS, BUT IF YOU WANT GO TO THE BOARD, BOARD MEETING,
UM, THEY DO A VERY, UM, DETAILED ANALYSIS.
AND AS A MATTER OF FACT, THE LAG TIME BETWEEN, UH, THE EXPENSES AND THE RECEIVABLES IS GOING TO DECREASE BECAUSE THEY'RE GOING TO BE MOVING TO MONTHLY BILLING.
IT'S A WAY OF ALSO INCREASING AWARENESS AMONG THE PUBLIC AS TO ARE YOU, DO YOU HAVE A LEAK, FOR EXAMPLE? OR, YOU KNOW, YOU DON'T WANT TO WAIT THREE MONTHS TO KNOW THAT EVEN THOUGH WE HAVE SYSTEMS IN PLACE NOW, THAT WILL WARN YOU IF YOU SIGN UP FOR IT.
IF YOU HAVE A LEAK, UH, IT'LL BE GOOD TO KNOW, CONTACT YOU AND SAY THERE'S SOMETHING'S WRONG.
UH, BUT THEY, THEY ARE, THEY'RE NOT PART OF OUR, THEY'RE AN ENTERPRISE FUND AND THEREFORE THEY'RE NOT PART OF OUR FUND BALANCE POLICY.
SO, UH, SHIFTING OVER TO THE LONG-TERM LIABILITIES ON PAGE 13.
NOW, UP TILL NOW, WE'RE TALKING ABOUT FUND BALANCE MOSTLY LIKE THIS.
THAT'S THE MONEY YOU HAVE IN THE BANK, UH, SET ASIDE FOR FUTURE EXPENSES.
UM, THESE ARE THE LIABILITIES THAT ARE NOT ACCOUNTED FOR IN THOSE FUNDS.
IT JUST NOT PART OF, UH, IT DOESN'T REDUCE YOUR FUND BALANCE SEPARATED AND DISTINCT, UM, FROM THE FUND BALANCE AMOUNT EXISTS, THESE LONG TERM LIABILITIES.
UM, THERE'S BONDS PAYABLE RELATED TO THE GOVERNMENTAL FUNDS OF ABOUT $53.5 MILLION.
UM, NOTHING ISSUED IN 2022 AND $7 MILLION WAS PAID DOWN.
YOU ALSO HAVE SOME OTHER LONG-TERM LIABILITIES, CLAIMS PAYABLE, UM, THAT'S LIKE JUDGMENTS AND CLAIMS, THOSE SORTS OF THINGS, COMPENSATED ABSENCES THAT VACATION AND SICK TIME FOR YOUR EMPLOYEES.
UM, LANDFILL CLOSURE COSTS, UH, $4 MILLION.
AND THE SIGNIFICANT NUMBER ON THE PAGE IS THE OTHER POST-EMPLOYMENT BENEFIT LIABILITY AT $266 MILLION.
THAT'S THE, UM, ACTUARIALLY DETERMINED VALUE OF THE HEALTH INSURANCE FOR RETIREES.
UM, IT'S ON A PAY AS YOU GO BASIS.
SO WHEN, WHEN THOSE BENEFITS COME DUE, THE HEALTH INSURANCE BENEFITS ARE DUE FOR THE RETIREES.
YOU BUDGET FOR THOSE PAYMENTS AND YOU MAKE THOSE PAYMENTS.
SO THAT'S, THAT'S, UM, HOW IT WORKS AT, IN NEW YORK STATE ACROSS ALL MUNICIPALITIES BECAUSE THERE'S NO, THERE'S NO LEGAL WAY TO FUND, TO FUND THE LIABILITY.
AND THEN LIKEWISE, ON PAGE 14, YOU'LL SEE THE SAME CHARTS FOR YOUR WATER FUND OR YOUR, OR YOUR, YOUR BUSINESS TYPE ACTIVITIES.
AND, UM, YOU HAVE THE BONDED DEBT, OF COURSE AT ABOUT 33 AND A HALF MILLION DOLLARS OUTSTANDING.
UM, SOME COMPENSATED ABSENCES, 169,000 AND THE OTHER POST-EMPLOYMENT BENEFIT LIABILITY, UH, ALLOCATED TO THE WATER FUND AT $11.5 MILLION.
SO THOSE ARE SOME OF THE LIABILITIES, UM, OF YOUR WATER FUND SPECIFICALLY.
AND THEN FINALLY, TO RECAP, UM, IS JUST THE SUMMARY OF THE BONDED DEBT OUTSTANDING.
ON PAGE 15, YOU'LL SEE A TOTAL BETWEEN THE ENTERPRISE AND THE, AND THE GOVERNMENTAL FUNDS, 86.9 MILLION OF BONDED DEBT.
AND THOSE ARE JUST, UH, FOR YOUR REFERENCE TO ALL THE ISSUES THAT ARE OUTSTANDING AND WHEN THEY COME DUE AND THE VARIOUS INTEREST RATES YOU HAVE TO PAY.
AND FINALLY, ALSO, UM, ON A YEAR BY YEAR BASIS, HOW MUCH THOSE PAYMENTS WILL BE TO THE TOWN.
UM, IN 23, THAT NUMBER WOULD BE ABOUT $10.8 MILLION OF DEBT DUE TO BE PAID.
AND THAT NUMBER DOES TRAIL DOWN A LITTLE BIT, UM, IN 24, 25, 26.
AND IN 27, IT ULTIMATELY IS DROPPING DOWN TO ABOUT 8.2.
THAT DOESN'T ACCOUNT FOR ANY NEW DEBT THAT MIGHT COME ON BY THEN.
THAT'S REALLY ALL WE HAD FOR OUR PREPARED REMARKS.
UM, I'D LIKE TO JUST THANK THE CONTROLLER'S OFFICE, YOU KNOW, FOR MAKING IT A, A CLEAN AUDIT.
AND WE DO COME IN, WE'RE WE PRODDING AND PRYING AND ASKING A LOT OF QUESTIONS.
UM, AND, YOU KNOW, EVERYTHING, EVERYTHING WAS PRETTY WELL IN ORDER AND, YOU KNOW, DONE WELL.
UM, WE DID HAVE A FEDERAL SINGLE AUDIT FOR THE FIRST TIME IN A LONG TIME HERE.
'CAUSE YOU SPEND SOME OF THAT ARPA MONEY.
SO WHEN YOU SPEND MORE THAN 750,000 OF FEDERAL DOLLARS IN A GIVEN YEAR, IT TRIGGERS A COMPLIANCE AUDIT.
AND ALSO THE, THE FEMA AID WAS THE SECOND BIG PIECE.
SO WE HAD TO LOOK AT THOSE TWO PROGRAMS IN DETAIL.
UM, WE'RE FINALIZING THAT, THAT WITH THE FEDERAL AUDIT CLEARING HOUSE, I THINK ROBERTA PROBABLY GOT EMAILS TODAY ABOUT IT.
SO WE'RE IN THE PROCESS OF FINALIZING THAT EVERYTHING CHECKED OUT OKAY.
FROM A COMPLIANCE POINT OF VIEW.
[00:45:01]
SO THAT WAS, THAT WAS ALL GOOD THERE.I ASKED ALL THE DEPARTMENT HEADS TO GIVE US, YOU KNOW, A LIST OF LIKE VARIANCES FOR 2023, THE FIRST SIX MONTHS, YOU KNOW, MANY OF THE DEPARTMENT HEADS RESPONDED, YOU KNOW, TODAY, UM, THE QUESTION THAT I HAVE IS THAT SOMETIMES IT'S DIFFICULT DURING THE, YOU KNOW, WE DON'T REALLY KNOW WHERE WE ARE, SAY AT THE MIDDLE OF THE YEAR OR, UH, YOU KNOW, DIFFERENT POINTS IN THE YEAR.
AND THEN IT MAKES IT HARDER TO, YOU KNOW, TO PROJECT, YOU KNOW, IN THE PAST, YOU KNOW, I WOULD SAY, OH, THE BUDGET IS REALLY, YOU KNOW, DIFFICULT.
WE'RE GONNA BE, UH, THERE'S GONNA BE ALL THESE, UH, POTENTIAL LAYOFFS AND CUTS AND THEN, YOU KNOW, WE HAVE A TAX CUT.
YOU KNOW, AND I'M SORT OF WONDERING, WOULD YOU HAVE ANY THOUGHTS ON WHAT WE COULD DO, WHAT THE BOARD COULD DO, UM, SO WE COULD HAVE A BETTER, UM, ESTIMATES DURING THE YEAR, UH, AS TO, YOU KNOW, WHERE WE, WHERE WE ARE, UM, OUR PROJECTIONS, YOU KNOW, ACCURATE, UM, YOU KNOW, SHOULD WE TIGHTEN UP OR, YOU KNOW, MORE THAN WE WOULD NORMALLY DO.
I'M JUST WONDERING FROM A BUDGET PRACTICE, IS THERE, OR ARE WE BASICALLY JUST DOING WHATEVER WE SHOULD BE DOING? I MIGHT WANNA DEFER TO, TO YOU AS YOU KNOW, I, 'CAUSE I DON'T KNOW WHAT YOU PROVIDE, YOU KNOW, MONTHLY, QUARTERLY, YOU KNOW, SO OUR BUDGET IS PUT IN, AND I'VE SAID THIS,
SO REALLY, NUMBER ONE, IT'S A LA IN GETTING THE INFORMATION INTO THE SYSTEM.
NUMBER TWO, YOU'RE LOOKING AT A BUDGET FOR A WHOLE ENTIRE YEAR VERSUS PART OF THE YEAR.
WELL, THAT'S MATCH, THAT'S WHAT, THAT'S WHAT IM TO YOU UP.
THAT'S WHAT I'M SORT OF, YOU KNOW, YOU KNOW, I REMEMBER WHEN YOU MENTIONED THAT LAST WEEK, YOU KNOW, THAT'S A VALID, VALID POINT.
AND I'M JUST SORT OF WONDERING IF THERE'S ANYTHING THAT, YOU KNOW, THE BOARD, IS THERE INFORMATION THAT THE BOARD COULD HAVE THAT WE DON'T HAVE RIGHT NOW THAT WOULD ENABLE US NOT TO HAVE, YOU KNOW, SURPRISES BECAUSE WE'VE BEEN LUCKY THE PAST 10 YEARS WHERE THERE HAVEN'T, THE SURPRISES HAVE BEEN POSITIVE, BUT IT COULD BE NEGATIVE 10 YEARS FROM NOW.
AND I'M JUST, CAN I MAKE, YOU KNOW, TO FOLLOW UP ON WHAT YOU'RE SAYING, PAUL, IS DOES IT MAKE SENSE TO, TO TAKE A LOOK AT HISTORICALLY AND, AND WORK UP SOME KIND OF AVERAGE HISTORICALLY AND MAYBE ABSENT OUT THE COVID YEARS BECAUSE THAT WAS SUCH AN UNUSUAL THING, BUT HAVE THAT INFORM US.
DOES THAT MAKE SENSE OR IS THAT JUST SIMPLISTIC? BUT THAT'S A, THAT'S A LITTLE SIMPLISTIC BECAUSE WHAT WE DO WHEN WE DO, WHEN WE DO YEAR END, THERE ARE A WHOLE BUNCH OF, UM, COSTS THAT WE NEED TO LOOK INTO TO MAKE SURE THAT THEY'RE ALL RECORDED PROPERLY.
THERE'S A WHOLE BUNCH OF ANALYSIS THAT NEEDS TO BE DONE TO MAKE SURE THAT WE'RE, THAT WE'RE IN THE RIGHT PLACE.
AND QUITE HONESTLY, WE DON'T HAVE THE MANPOWER TO BE ABLE TO DO THE, YOU KNOW, TO DO IT EVERY MONTH.
I'M NOT EVEN SUGGESTING EVERY MONTH, I'M JUST SAYING, YOU KNOW, GO OVER A SPAN OF 10, 15, 20 YEARS, LOOK AT THE, YOU KNOW, THE PREVAILING FACTORS.
IN A SIMPLISTIC WAY, WE CAN'T LOOK INTO OUR CRYSTAL BALL PERFECTLY, BUT WE CAN LOOK AT PAST HISTORY.
MAYBE THAT WOULD BE HELPFUL IN ANSWERING SUPERVISOR'S CONCERNS.
IS THAT, THAT'S WHAT I'M SAYING, IS THAT, I'M JUST SAYING, YOU KNOW WHAT, I'M NOT, SO WE'VE GOT THE 10 YEARS IN HERE, CORRECT? YEAH.
WHAT, UH, OPERATING INDICATORS, THIS IS THE OPERATING INDICATORS.
I MEAN, I MEAN, IF YOU START LIKE ON PAGES 1 48 AND 1 49 OF THE BIG BOOK, IT GIVES YOU A 10 YEAR HISTORY OF, OF FUND BALANCE FOR THE GENERAL FUND AND THEN ALL THE OTHER FUNDS, YOU KNOW, COMBINED ON THAT PAGE.
AND THEN PAGES ONE 50 AND 51 GIVE YOU REVENUES AND EXPENDITURES FOR A 10 YEAR PERIOD.
SO YOU COULD SEE LIKE REAL PROPERTY TAXES, YOU KNOW, IN 2013 WERE 63 MILLION, AND IN 2022 THERE'S 73 MILLION, SO IT'S UP 10 MILLION IN 10 YEARS.
AND, AND YOU COULD SEE LIKE THE TREND THERE AND CERTAIN, YOU KNOW, THESE OTHER, BUT THESE ARE MAIN CATEGORIES.
THEY'RE NOT, YOU KNOW, SPECIFIC INDIVIDUAL LINES.
BUT THE QUESTION THAT I HAD IS, UM, IS IT IS BASICALLY, UM, YOU KNOW, AGAIN, YOU KNOW, I THINK YOU'VE DONE A REALLY GOOD JOB IN TERMS OF PREPARING THE BUDGETS AND YOU KNOW, I FEEL THAT, UM,
[00:50:01]
YOU KNOW, EVERYBODY IS PLEASED THAT, YOU KNOW, WE'VE HAD TAX CUTS FOR, OR ZERO TAXES FOR FOUR YEARS SO FAR, AND WE'RE GETTING ANOTHER GOOD REPORT TODAY.BUT AGAIN, YOU KNOW, AS FRANCIS MENTIONED, YOU KNOW, OVER A DOZEN YEARS AGO WE HAD, THIS WAS A LONG TIME AGO, WE HAD TWO YEARS OF 0% INCREASES AND THEN YOU ADDED TO OVER A 21% INCREASE ALL OF A SUDDEN.
SO WE HAD A SURPRISE, THIS WAS A LONG TIME AGO.
WE HAVEN'T HAD THAT IN THE PAST IN RECENT YEARS, BUT ALL I'M SAYING IS THAT, UM, WE WANT TO MAKE SURE THAT DOESN'T HAPPEN AGAIN.
AND THE QUESTION IS, IF WE HAD, YOU KNOW, MORE INFORMATION, YOU KNOW, ACCURATE INFORMATION EARLIER ON, YOU KNOW, WE COULD THEN TIGHTEN UP IF WE HAVE TO, UM, YOU KNOW, BEFORE THERE, BEFORE THERE WOULD BE A CRISIS AND I'M NOT SURE HOW WE COULD HANDLE IT OR, YOU KNOW, MAYBE IF THE CONTROLLER'S OFFICE DOESN'T HAVE THE MANPOWER FOR THAT, IS THAT SOMETHING THAT, IS THERE ANY MODELS THAT OTHER COMMUNITIES HAVE DONE THAT WOULD ENABLE, YOU KNOW, WHERE WE COULD CONTRACT OUT, SAY WITH A FIRM AND THEN WITH SAY YOUR FIRM OR ANOTHER FIRM AND YOU KNOW, WOULD IT, WOULD IT HELP US OR IS THIS SOMETHING THAT MAYBE IS AN IMPRACTICAL IDEA? IT IS PROBABLY A LITTLE IMPRACTICAL BECAUSE, YOU KNOW, AS THE CONTROLLER SAID, ED, EACH OBVIOUSLY BOOKS, THE BOOKS ARE CLOSED MONTHLY, RIGHT.
BUT I, I WOULD DEEM THEM LIKE A SOFT CLOSE, YOU KNOW, TO, TO MOVE INTO THE NEXT MONTH SO THEY'RE NOT SITTING THERE EVERY MONTH MAKING SURE EVERY ACCOUNT'S PAYABLE GOT IN THERE, YOU KNOW, AT THE END OF THE YEAR THAT IS, THAT IS HAPPENING, BUT ON A MONTHLY BASIS IT'S NOT HAPPENING.
AND AS ALSO WAS SAID, YOU KNOW, THE BUDGET IS AN ANNUAL BUDGET, RIGHT? SO LET'S SAY YOU'RE TALKING LIKE A DEPARTMENTAL REVENUE LIKE PARKS, RIGHT? AND MAYBE YOU BUDGET, YOU KNOW, I'M JUST MAKING UP A NUMBER, A MILLION DOLLARS FOR PARKS REVENUE.
WELL, WE PROBABLY KNOW MOST OF THE PARKS REVENUE IS GONNA COME IN IN THE SUMMER, RIGHT? IT'S NOT COMING IN IN THE MIDDLE OF THE WINTER IN, IN FEBRUARY.
SO YOU MIGHT LOOK AT A REPORT, SHE MIGHT BE ABLE TO GIVE YOU A REVENUE STATUS REPORT THAT SHOWS BUDGET AND ACTUAL AT THE END OF FEBRUARY, AND YOU'RE GONNA SEE A MILLION DOLLARS FOR PARKS REVENUE AND YOU'RE GONNA SEE ZERO ACTUAL, AND YOU'RE GONNA BE LIKE, WHY IS OUR REVENUE ZERO? SO THAT, THAT'S WHERE IT'S SOMEWHAT IMPRACTICAL.
UNDERSTAND, UNLESS YOU HAD LIKE A MONTHLY, YOU KNOW, BUDGET AND SAID, HEY, THE PARKS REVENUE'S REALLY GONNA COME IN FROM JUNE TO SEPTEMBER.
NO, THERE'S JUST SOME PEOPLE WHO KEEP YOU ASKING ME.
AND SO I WANTED TO, YOU KNOW, GET YOUR THOUGHTS ON THIS WAY I COULD REPORT BACK.
I KNOW THERE ARE THINGS THAT, THAT WE CAN'T ANTICIPATE.
FOR INSTANCE, WE ALL KNOW THAT STATE BUDGETS TAKEN A BIG HIT AND YOU KNOW, THEY'RE GONNA PASS COSTS ON TO US
BUT THAT, BUT THAT'S, BUT THAT'S A PERFECT EXAMPLE WHERE IF WE HAD, IF, YOU KNOW, WE HAD IDEA, YOU KNOW, MORE, UH, PERIODIC REPORTS AND SAID, WE KNOW WE'RE GONNA GET LESS STATE AID AND THAT'S GONNA COST US A MILLION DOLLARS AND WE KNEW THAT WE WILL GET, BUT WE, THE, YOU KNOW, THOSE THINGS ARE SO HARD TO ANTICIPATE IS WHAT, AND THE ONLY WAY WE CAN HAVE ANY KIND OF SENSE, IT'S JUST LIKE WHEN YOU, WHEN YOU INVEST MONIES, YOU KNOW THAT IT MIGHT GO LIKE THIS, BUT THE, THE TRAJECTORY MIGHT BE NO, I UNDERSTAND.
WELL, SO EVEN EVEN WITH GRANTS, WE DON'T KNOW WHEN WE'RE GONNA GET THAT REIMBURSEMENT.
BUT NO, I'M SATISFIED WITH YOUR ANSWER.
UM, I, I HAVE HAD THE FANTASTIC OPPORTUNITY TO MEET, OH, CLOSE MAYBE 8,000 PEOPLE, UH, HERE IN THE TOWN OVER THE PAST SINCE FEBRUARY.
UM, BECAUSE I'M, I'M OUT AND ABOUT, UH, TALKING WITH PEOPLE AND THE LOUDEST OUTCRY IS COMING FROM RESIDENTS ABOUT THE TAXES, THE, THE RISING INCREASING TAXES HERE IN THE TOWN OF GREENBURG.
I MEAN, PEOPLE ARE, ARE REALLY HURTING IN THIS TOWN.
AND, UM, MY QUESTION IS, IS IS THERE A WAY OF GENERATING, YOU KNOW, ADDITIONAL REVENUE WITHOUT HURTING THE TAXPAYERS, HITTING THEM SO HARD WITH TAX INCREASES LIKE NET UH, PROPERTY INCREASES? LIKE PROPERTY TAX INCREASES, LIKE NEXT YEAR WE'RE DUE FOR ANOTHER ASSESSMENT, UM, BY TYLER TECHNOLOGIES AND PEOPLE ARE, RESIDENTS ARE JUST REALLY SCARED THAT THEIR TAXES ARE GOING GO TO GO UP, UM, EXPONENTIALLY AGAIN FROM, FROM THAT ASSESSMENT.
OH, ASSESSMENT IS, IS SEPARATE FROM OKAY.
REVENUES AND, OKAY, YOU KNOW, I, I, I, SO ASSESSMENT THEORETICALLY IS SUPPOSED TO MAKE EVERYBODY PAY A FAIR SHARE.
THAT'S WHAT IT'S SUPPOSED TO DO.
[00:55:02]
IF THERE ARE TWO HOUSES IN THE TOWN OF GREENBURG AND THEY WERE BOTH ASSESSED AT THE SAME VALUE AND THE TOWN HAD TO RAISE A HUNDRED DOLLARS IN TAXES TO SUPPORT ITS OPERATIONS, EACH HOUSE WOULD PAY $50 IN TAXES.BUT NOW IF ALL OF A SUDDEN THE FIRST HOUSE PUTS IN, YOU KNOW, A SWIMMING POOL AND A THIRD FLOOR AND, AND THIS AND THAT, NOW ALL OF A SUDDEN IF THEIR, YOU KNOW, IF THEIR ASSESSMENTS STAY THE SAME, THE THE IDEA FOR THE ASSESSMENT IS THAT IT'S SUPPOSED TO BE AT MARKET VALUE.
SO NOW IF ALL OF A SUDDEN THAT PERSON DOUBLED THE VALUE OF THEIR HOUSE, THEIR ASSESSMENT MIGHT BE, YOU KNOW, NOT 50 50 ANYMORE.
IT MIGHT BE 150, RIGHT? A HUNDRED FOR THIS HOUSE.
BUT THE TOWN MAY STILL NEED TO RAISE A HUNDRED DOLLARS IN TAXES THE NEXT YEAR.
BUT NOW THAT FIRST HOUSE WILL NOW HAVE TO PAY TWO THIRDS OF THAT TAX AND THE OTHER PERSON WOULD PAY ONE THIRD.
BUT WE, WE GET, WE'RE GETTING, FIRST OF ALL, MOST OF THE TAX COMPLAINTS HAVE NOTHING TO DO WITH THE TOWN 'CAUSE WE'VE REDUCED THE TAXES.
UM, BUT THE THING IS, IT'S, I HEAR A LOTS, IT'S RIGHT, BUT PEOPLE ARE COMPLAINING ABOUT THE ENTIRE TAX PACKAGE, AND MOST OF IT'S THE, UH, SCHOOLS, AND IT IS REALLY THE SCHOOLS THAT, UH, THAT ARE THE, THE PROBLEM.
BUT IN TERMS OF ADDITIONAL REVENUES, YOU KNOW, WE'RE GONNA BE GETTING MORE REVENUES FROM THE ELMWOOD.
UH, THAT THAT'S NOT IN, UH, THE 2000, THAT WAS NOT IN THE 2022 ANALYSIS.
UH, BRIGHTVIEW IS GONNA START THE CONSTRUCTION.
UM, GARRETT, UH, DUQUESNE APPLIED FOR A GRANT THAT THE TOWN BOARD BASICALLY APPROVED LAST WEEK SAYING, WE WANT TO TAKE A LOOK AT, UH, THE FOUR CORNERS IN HARTSDALE.
SO THAT'S ECONOMIC DEVELOPMENT.
YOU KNOW, THERE'S A LOT OF, UM, EMPTY, UH, THERE'S OFFICE PARKS ON ONE 19 THAT POTENTIALLY COULD BE, UH, YOU KNOW, UH, REDEVELOPED.
SO I THINK THAT AT LEAST FOR THE NEXT, YOU KNOW, FIVE, 10 YEARS, THERE'S A LOT OF, UH, POTENTIAL ADDITIONAL REVENUE, UH, YOU KNOW, STREAMS. SO, YEAH.
AND, AND BESIDES, AND TO GO BACK TO THE SCHOOL TASK, SCHOOL TAXES REPRESENT ABOUT 65% OF THE BUDGET, ROUGHLY 15, 18 ACTUALLY WAS GONNA SAY 15, 18%.
WE TALKED ABOUT EARLIER THE, THE TAXES THAT THE TOWN COLLECTS, THE REAL PROPERTY TAXES, YOU KNOW, THIS YEAR IT WAS $73 MILLION.
WE SAW THAT OTHER PAGE FOR THE TAXES THAT YOU'RE COLLECTING FOR THE SCHOOLS AND THE OTHER, AND, AND THE COUNTY IS 520 MILLION, RIGHT? SO YOU HAVE A $600 MILLION TAX COLLECTION POT, AND THE TOWN PORTION IS 75 MILLION OF THE 600 MILLION.
SO IT'S JUST REALLY OVER 10%, 12% RIGHT.
OF THE TOTAL TAX BILL THAT A HOUSE WOULD, WOULD, WOULD HAVE.
SO, BUT WHAT, WHAT I, THE POINT ALSO THAT I'M MAKING THE COUNTY TAXES IS ABOUT THE SAME, RIGHT? MAYBE A COUPLE PERCENTAGE POINTS MORE, I DON'T KNOW.
BUT THE BULK OF THE TAXES ARE SCHOOL TAXES AND THE EVERY, WE HAVE A VOTE EVERY YEAR THERE'S A VOTE ON THE SCHOOL TAXES TO APPROVE TAXES.
AND THIS YEAR, FOR INSTANCE, THE NUMBER OF VOTERS THAT TURNED OUT IN GREENBURG WAS SA PALTRY.
VOTERS VOTED ON THE SCHOOL TAXES IN THE TOWN OF GREENBURG THAN VOTED IN THE VILLAGE OF HASTINGS.
THAT'S, WE'RE TALKING ABOUT UNINCORPORATED AT ABOUT, UM, 45, 40 6,000 PEOPLE AND HASTINGS AT 8,000 PEOPLE.
SO, YOU KNOW, IT'S SOMETHING THAT YOU MIGHT SAY IS THAT, YOU KNOW, LOOK CLOSELY AT THE SCHOOL TAXES AND MAYBE THEY'RE JUSTIFIED AND, AND, AND YOU CAN, ARE CONCERNED ABOUT YOUR KIDS' EDUCATION.
SO, BUT AT LEAST UNDERSTAND WHERE THE TAXES ARE AND HOW MUCH, UM, WE AS A TOWN CAN IMPACT, IMPACT THE AMOUNT OF MONIES THAT ARE COMING OUTTA THEIR POCKETS.
IT COSTS X AMOUNT OF DOLLARS TO RUN THE TOWN.
THE TOWN HAS TO COLLECT THAT AMOUNT OF MONEY AND THEY COLLECT THAT PORTION AS WELL AS THE SCHOOL.
WELL, THANK YOU FOR YOUR TIME.
ENJOY THE FESTIVITIES HERE THIS EVENING,
YOU WANNA CLOSE THE MEETING UP? YEAH, CLOSE THE MEETING.
AND SECOND PAUL, DID YOU TO CLOSE? YEAH, WE HERE.
YOU COULD ANYBODY JUMP IN? EVERYBODY CAN GO IN.
ANYBODY GET A FREE HAMBURGER? I DON'T KNOW IF SECOND.